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FEATURED CONTENT
Is the Residential Clean Energy Credit Worth It?
Have you ever gone into a dealership to purchase a car? It’s been a while for me, but one of the things that keeps me from vehicle shopping is just how difficult it is to ascertain the actual price of the vehicle. The salesperson wants to run a credit check and then talk to you about how much payment you can afford. They want to factor rebates and trade-in value of your existing vehicle to the payment they quote you without ever telling you what you are paying for the car. The entire negotiation often becomes about the monthly payment (regardless of the term of the loan) rather than the car’s price. Indeed, personal finance websites almost always recommend negotiating the three aspects of your car purchase separately: the vehicle’s price, the trade-in amount for your vehicle, and the financing. Otherwise, you run the risk of both buying more car than you can afford and being upside down in the loan (owing more on the vehicle than the vehicle is worth) shortly after you make the purchase. What does this have to do with the expansion of the Residential Clean Energy Credit, you ask? More than you might think. My husband, after talking to a neighbor, recently decided to start shopping for solar panel systems with the idea of saving money on (or largely eliminating) our monthly power bills. What followed was a crash course in residential solar energy sales and the associated economics.
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CURRENT EDITION
Worrisome Messages Subtly Delivered Via Recent Tax Developments
Tax professionals are inundated with tax developments from all branches of the government and from all levels of government on a daily basis. Our technical tax knowledge expands weekly. Given the immensity of tax law changes in P.L. 119-21 (July 4, 2025), informally named the One Big Beautiful Bill Act (OBBBA), and the guidance we’ll continue to get over the next few years along with non-OBBBA updates, we might run out of time and bandwidth to step back and ask what additional relevance this guidance, as well as various reports issued by the government every day, mean for the well-being of our tax system. This article unpacks select tax law changes and government documents to offer four subtle messages within them. Generally, the messages don’t bode well for an effective tax and revenue system. The article ends with some suggestions on what can help improve our tax system.
Sirius Solutions and the S Corp or Partnership Choice
The Fifth Circuit Court of Appeals opinion in Sirius Solutions L.L.L.P. v. Commissioner may change our views of entity choice. If the decision holds up, partnerships will be able to effectively make the portion of limited partner income subject to self-employment tax whatever they want, including zero. This contrasts with the IRS position upheld by the Tax Court in Soroban Capital that treated all of the income of limited partners who were active in the business as self-employment income.
Niche Down to Scale Up: How Specialization Drives Visibility and Profitability
For many accountants, narrowing our focus can feel risky. We are trained to serve anyone who needs help and provide stability in any financial situation. Choosing a niche often raises concerns: Will we turn away good clients? Will we limit opportunities or reduce business stability? These are common doubts many of us have faced in our careers.
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Think Outside the Tax Box provides tax reduction strategies along with practical
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